Wike returns, speaks on consultations with Atiku, Obi, Tinubu, OBJ
Governor Nyesom Wike of Rivers State has revealed reason for the consultations with major presidential candidates in the 2023 elections and former President Olusegun Obasanjo among others. According to the governor, the consultations are for the best interest of the country and are still ongoing. Wike has been making headlines recently following his meetings with […]
Fashola justifies debt incurred by Buhari’s government
The Minister of Works and Housing, Babatunde Fashola, on Thursday justified the huge foreign debts Nigeria has incurred under President Muhammadu Buhari’s administration. According to Fashola, the infrastructural projects across the country justify the foreign debts by the present administration. Noting that the Buhari-led government met N18 billion in 2015 appropriated for works, the minister […]
CBN Urges Private Sector Operators To Repatriate FX Earning To Reduce Pressure
The Central Bank of Nigeria (CBN) has urged the repatriation of foreign exchange (FX) profits through legitimate means to relieve pressure on the naira. This was said by Egboagwu Ezulu, CBN deputy director, banking services, at the Association of Corporate Affairs Managers of Banks (ACAMBinaugural )’s stakeholders’ conference on Wednesday in Lagos. Importers are dumping […]
FX: We ‘re working to avert further Naira fall – CBN
The Central Bank of Nigeria (CBN) has assured that it will continue to make deliberate efforts in the foreign exchange sector to avert further downward slide in the value of the naira, which it said was fuelled by speculative tendencies, despite rising demand for foreign exchange for both goods and services by Nigerians. Mr. Osita […]
Senate summons CBN gov, Emefiele over Naira devaluation
The Senate, on Wednesday, resolved to summon the Central Bank of Nigeria Governor, Mr. Godwin Emefiele, to explain in a closed session reasons for the rapid depreciation of the value of the naira.It also mandated the Senate Committee on Banking, Insurance and Other Financial Institutions to assess the impact of the CBN intervention funds meant […]
EU Offers $1.3Bn Support To Help Nigeria Diversify Economy
The European Union (EU) and its development finance institutions have announced that they will provide 1.29 billion euros ($1.3 billion) to Nigeria to help it diversify its economy away from oil. According to Reuters, the funding will be provided until 2027 under the EU’s “Green Deal” initiative and will, among other things, focus on improving […]
Unity bank announces agric, fashion entrepreneurs, others as winners of N10M Corpreneurship challenge grant
Unity Bank Plc, a Nigerian lender, has awarded a N10 million business grant to 30 corps members who won the eighth edition of its flagship Entrepreneurship Development Initiative, known as Corpreneurship Challenge. The winners were chosen following a business pitch that took place recently in ten states: Rivers, Delta, Sokoto, Edo, Abuja, Akwa-Ibom, Osun, Kano, […]
Zenith bank retains position as Nigeria’s best commercial bank, also scoops best corporate governance bank award at World Finance 2022 awards
Zenith Bank has been named the Best Commercial Bank in Nigeria in the World Finance Banking Awards 2022, retaining the title for the second year in a row. The bank was also named the Best Corporate Governance Bank in Nigeria. Ebenezer Onyeagwu, Group Managing Director/Chief Executive of Zenith Bank Plc, received the awards yesterday at […]
Union Bank Releases 2021 Citizenship, Sustainability, Innovation Report
Union Bank, a leading financial institution, has today published the sixth edition of its annual Citizenship, Sustainability, and Innovation (CSI) report, which provides an update on the bank’s initiatives in the environmental, social, and economic sectors for 2021. This year’s report, like previous editions, highlights Union Bank’s ongoing efforts to positively impact the people and […]
Naira depreciates further to N614/$ at parallel market
The Nigerian naira has fallen to N614 per dollar in the parallel section of the foreign exchange market. The figure represents a depreciation of N7, or 1.2 percent, compared to the N607 it traded for in the previous two weeks. Bureaux De Change operators (BDCs), also known as ‘abokis,’ said on Tuesday that they buy the greenback […]